Total amount raised
$13.5 Million
Latest funding date
12/01/2020
Location
Xero Shoes has successfully navigated three funding rounds, with the latest being an undisclosed round. The company has garnered the support of notable investors, including TZP Group.
Keep reading to explore the intricacies of Xero Shoes' fundraising journey and the investors backing this innovative footwear brand.
What Is Xero Shoes?
Xero Shoes, based in Broomfield, Colorado, specializes in minimalist and barefoot footwear designed to promote natural movement. The company offers a variety of shoes for men, women, and kids, suitable for activities like running, training, hiking, and casual wear.
Founded by Steven Sashen and Lena Phoenix, Xero Shoes operates in the Apparel, Fashion, Lifestyle, Men's, Retail, Shoes, Sports, and Women's categories. The company employs between 11-50 people and emphasizes the benefits of natural foot movement with their patented FeelTrue® soles.
How Much Funding Has Xero Shoes Raised?
- Equity Crowdfunding
- Amount Raised: USD 1,000,000
- Date: September 2017
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand product lines and increase market reach.
- Private Equity
- Amount Raised: USD 12,500,000
- Date: December 2020
- Lead Investors: TZP Group
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To leverage TZP Group's resources for increasing investments in awareness, distribution, and product development.
- Undisclosed
- Amount Raised: USD 5,000,000
- Date: April 2025
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance manufacturing capabilities.
Total Amount Raised: USD 18,500,000. Current Valuation: Not publicly disclosed.
Key Investors
- TZP Group
- Details: TZP Group is a private equity firm that focuses on investments in lower-middle-market companies. They have partnered with Xero Shoes to help the brand grow into a global entity.
- Investment Focus Areas: Health and wellness, outdoor-focused active lifestyles, affordably priced products.
- Notable Investments: Not publicly disclosed.
- Marc Schneider
- Details: Marc Schneider is a senior advisor to TZP Group and a direct investor in Xero Shoes. He has over 35 years of industry experience, including serving as CEO of Kenneth Cole Productions.
- Investment Focus Areas: Style, fit, comfort, function in footwear.
- Notable Investments: Not publicly disclosed.
What's Next for Xero Shoes?
Xero Shoes stands at the cusp of significant growth opportunities. With strategic investments from TZP Group and the addition of Marc Schneider to the board, the company is poised to expand its product offerings and market presence. The growing consumer preference for health and wellness, coupled with the demand for affordably priced, functional footwear, presents a substantial market opportunity.
Future fundraising efforts could be on the horizon as Xero Shoes leverages its new partnerships to scale operations and enhance product development. However, the company may face challenges such as intense competition in the footwear industry and the complexities of transitioning from a direct-to-consumer model to a robust retail sales channel.
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